Blog, Strategies
March 26, 2026
Turning Chaos into Clarity: Translating Financial Services Data Analytics into Growth
Data analytics in banking unlocks opportunity for banks and credit unions Let’s go back 3,000 years ...
In preparation for our annual conference, Alkami Co:lab, we wanted to introduce you to our integrated partners. Powered by our partner program, together we deliver market-leading solutions that enable financial institutions to differentiate their digital banking platform and innovate at scale. Co:lab attendees will have a chance to meet with our partners in the Innovation Lab.
What is the single greatest advantage that bills and loan payments can offer financial institutions? Frequency. Each month offers an opportunity to connect with a customer or member, solve a challenge, or provide a modern, simple experience that sets the tone for a lasting relationship.
Frequency, however, can serve as a double-edged sword in the battle for loyalty. A clunky, time-consuming, or inflexible payment process can quickly cause consumers to delay payments or pay via the billing organization’s website. Once this occurs, it is unlikely that a consumer will voluntarily revert to old habits. This makes every interaction essential in terms of building relationships, which is why the biggest opportunity available today lies in deploying a billing and payment solution that is built to serve the needs of all consumers. When these capabilities are embedded within modern digital banking solutions, financial institutions can turn routine transactions into meaningful engagement opportunities.
Primacy is achieved when a consumer views a specific financial institution as their primary financial hub for all transactions and money movement. This means the financial institution is the first place an account holder goes to pay bills, send money to friends via peer-to-peer payments (P2P), or move funds between accounts via account-to-account (A2A), providing the institution with superior data and loyalty.
Being replaced as a prime center of financial activity is more than an inconvenience, it’s a strategic drain. Every bill payment or interaction that occurs outside of the financial institution ecosystem is a lost opportunity for a digital banking platform to gain visibility into financial habits, cross-sell relevant products, or engage in customer service.
Organizations that earn the attention of consumers have the ability to deliver a customer service experience that retains them, and can even turn them into champions of the brand. Lose this and the fight for loyalty falls to which institution has the best interest rates and promotional offerings. Neither addresses the challenge of a clunky payment experience; limiting their viability as a long-term solution.
Modernization solves the primacy challenge by replacing fragmented legacy systems with a unified, intuitive financial hub. By offering a comprehensive suite of products, including Bill Pay, Loan Payments, P2P, and A2A within a single portal, financial institutions remove the friction that previously drove customers and members to external competitors and third-party apps.
American Eagle Financial Credit Union (American Eagle FCU) is one of Connecticut’s largest community credit unions with $2.6B in assets. Despite this, the credit union was facing a series of challenges due to its legacy system’s limitations. A lack of self-service features and an inability to easily deploy new product offerings impacted the member experience and operational efficiencies.
American Eagle FCU committed to a strategic modernization through a partnership with Paymentus and Alkami. In total, the project introduced a host of expanded capabilities that offered members a comprehensive experience. This included:
The partnership completely transformed American Eagle FCU’s ability to serve members and meet their needs, which drove significant adoption of automated, cost-effective payment methods, increased total payment volume, and reduced staff workload. Highlights include:
Learn more about American Eagle FCU’s transformation in this case study detailing the project.
There are two main takeaways from American Eagle FCU’s success that are important to note:
It would’ve been easy for the credit union to settle on improving a single aspect of its billing and payments platform. Instead, it created a comprehensive platform that surrounded users with products that were simple to use and relevant to everyday life.
In particular, the inclusion of P2P and A2A products meant that users could send money to family and friends without ever having to leave their financial institution’s experience. They could log into a single portal and pay their electric bill, car loan, repay a friend for lunch, and send funds to an account outside of American Eagle FCU.
Of the numbers shared above, the key is that each indicated growth and improvement. Month after month, more account holders were using more of these services, indicating that the offerings were convenient and removed friction.
The 21% increase in total payments across all payment capabilities really stands out. Just as a rising tide lifts all boats, a modernization should benefit all areas of the business. This increase shows that regardless of capability, more account holders are using and continuing to use American Eagle FCU’s products, giving the credit union more ways to create stronger relationships with their members. After all, a good bill pay experience can easily be offset by a bad P2P experience. But the numbers make clear that each product is helping to increase the usage of all products, which is essential to building loyalty.
The takeaway goes beyond any one institution. Whether you’re a bank serving customers or a credit union serving members, the objective is the same: become the go-to financial hub in everyday life. When bill pay, loan payments, P2P, and A2A work seamlessly together within a modern digital banking platform, routine transactions turn into meaningful touchpoints. Done right, modernization helps both banks and credit unions build loyalty, deepen engagement, and support long-term growth.
To learn more about how Paymentus’s solutions can help your financial institution achieve better user retention and primacy, schedule a call or demo, or visit paymentus.com/banking-fintech/.
